The Applicant
Who do we lend to?
  • Individuals
  • Special Purpose Vehicles (SPVs)
  • Trading companies
  • Limited Liability Partnerships (LLPs)
  • Expats
  • First-time landlords
  • First-time HMOs - must be a landlord with at least 12 months experience
  • First-time buyers with a minimum employed income of £85,000

Please note, we only lend on properties which are intended for rent. We will not agree an advance where the owners (or their relatives) plan to occupy the property.


All applicants must have/ be:
  • Minimum age of 21
  • Maximum age of 85, at end of term
  • A UK credit footprint
  • No adverse credit history
  • Minimum income of £25,000 per annum

First-time landlords
  • Maximum LTV of 75%
  • Must be owner occupiers of current main residence

HMOs & MUFBs
  • Minimum property value of £120,000
  • Maximum LTV of 75%
  • Applicants must have a minimum of 12 months prior experience as a landlord
  • HMOs - max. 15 bedrooms*
  • MUFBs - max. 10 units*

*HMO minimum room dimensions to be determined by statute and local authority requirements. MUFBs must be a min. of 25sqm per unit.


All expats must have/ be:
  • Maximum LTV of 70%
  • Residents of the European Union can apply as individuals or a Limited company
  • Residents outside of the European Union must apply in a Limited Company and reside in a FATF country
  • A clean UK credit footprint
  • Active UK bank account
  • Existing UK buy-to-let property
  • Employed with a minimum income of £40,000 or self-employed with a minimum income of £60,000
The Property
We lend against:
  • Standard properties
  • Houses of Multiple Occupancy (HMO)
  • Multi-Unit Freehold Blocks (MUFB)
  • Properties adjacent or above commercial premises*

*We will consider applications adjacent or above commercial premises, provided that the use for the commercial properties are in line with the local market and that they do not affect the property's security or long-term rental opportunities. This is restricted to max. LTV of 70%.


Properties must have/ be:
  • In England and Wales**
  • Rental income that meets a certain percentage of monthly mortgage repayments. To find out the percentage value that applies to your case, click here
  • A minimum property value of £80,000 for standard properties or £120,000 for HMOs and MUFBs
  • Be in an area with strong rental demand, as determined by our surveyor partners
  • Be suitable for letting at completion

**Must not be holiday lets, Airbnb lets, consumer buy-to-lets, shared ownerships, Help to Buy, Right to Buy or residential properties.

The Financials
How much do we lend?
£50,000 £1.5m
Minimum Maximum

ICR rules:

2-year Fixed rate, 3-year Fixed and Tracker rate products stressed at 5.50%
Product Type Standard HMO/MUFB Expatriate First Time Landlord Above/Adjacent Commercial
Individual 140% 140% 140% 140% 140%
Limited Company 125% 125% 125% 125% 125%
Limited Liability Partnership 125% 125% 125% 125% 125%
Standard
Individual 140%
Limited Company 125%
Limited Liability Partnership 125%
HMO/MUFB
Individual 140%
Limited Company 125%
Limited Liability Partnership 125%
Expatriate
Individual 140%
Limited Company 125%
Limited Liability Partnership 125%
First Time Landlord
Individual 140%
Limited Company 125%
Limited Liability Partnership 125%
Above/Adjacent Commercial
Individual 140%
Limited Company 125%
Limited Liability Partnership 125%
5-year Fixed rate products stressed at pay rate
Product Type Standard HMO/MUFB Expatriate First-time Landlord Above/Adjacent Commercial
Individual 140% 140% 140% 140% 140%
Limited Company 125% 130% 135% 135% 130%
Limited Liability Partnership 125% 130% 135% 135% 130%
Standard
Individual 140%
Limited Company 125%
Limited Liability Partnership 125%
HMO/MUFB
Individual 140%
Limited Company 130%
Limited Liability Partnership 130%
Expatriate
Individual 140%
Limited Company 135%
Limited Liability Partnership 135%
First-time Landlord
Individual 140%
Limited Company 135%
Limited Liability Partnership 135%
Above/Adjacent Commercial
Individual 140%
Limited Company 130%
Limited Liability Partnership 130%

Notes

Where the application meets more than one of the above stress rates, the higher stress rate will apply for the application.

The underlying affordibility of the background portfolio for an applicant will be considered against a minimum underlying ICR rate of 125% @ 5.00%.

However Landbay may consider cases that fail the initial minimum coverage ratio (above) if it is indicated appropriate to do so by using an affordibility model. The Landbay affordibility model will take into account a number of elements including other income.

Please note, all calls to Landbay are recorded for training and monitoring purposes.